A U.S. district judge in Oregon has blocked a $25 billion bid by supermarket giant Kroger to take over rival Albertsons, ruling that the Federal Trade Commission’s concerns about the merger’s impact on market consolidation were valid. Judge Adrienne Nelson said Tuesday afternoon that a merger between the two companies would…
Earlier this year, Steve Cohen laid out his principles as the owner of the New York Mets, saying it was a “philanthropic” endeavor, in an interview with CNBC’s Andrew Ross Sorkin. “I don’t care about the cost side,” Cohen said, adding: “If I can make millions of people happy, how…
Salt Lake City has grown from a winter sports venue to a vibrant technology hub in just two decades, leveraging the legacy of the 2002 Winter Olympics to transform into one of America’s fastest-growing business destinations. Known as part of Utah’s “Silicon Slopes,” the city has become a magnet for…
A rogue employee was responsible for hiding $151 million in delivery expenses over the course of nearly three years, Macy’s said Wednesday. In a statement accompanying its quarterly earnings results, the department store chain said a single employee responsible for small package delivery expense accounting had intentionally created erroneous cost…
Albertsons on Wednesday formally terminated its proposed $25 billion merger with Kroger and filed a lawsuit against its supermarket competitor, saying Kroger violated its contract and didn’t follow through on commitments to help get the deal approved. It comes a day after a judge blocked the planned tie-up. In a news release, Albertsons said Kroger…
The sound of celebratory gunfire filled the streets of Damascus in the hours following the collapse of President Bashar al-Assad’s regime. But the jubilant scenes at the weekend that greeted the end of half a century of tyranny could not mask the scale of the challenge facing the victorious Islamist…
Kennedy Johnson was 15 years old when she gave birth to a baby girl in a Detroit foster home for teen moms, in February 1996. Twenty-five years later, when Johnson found herself in northern Ghana being made a queen, she couldn’t quite believe where life had led her. In front…
A former South Korean defense minister was formally arrested Wednesday (local time) over his alleged collusion with President Yoon Suk Yeol and others in imposing martial law last week, as authorities investigate whether their acts amount to rebellion. Martial law, the first in more than 40 years, lasted only about…
The collapse of the Assad regime has prompted a punishing military response from Israel, which has launched airstrikes at military targets across Syria and deployed ground troops both into and beyond a demilitarized buffer zone for the first time in 50 years. Israeli Prime Minister Benjamin Netanyahu said during a…
The ancient mountains of the Andes are home to spectacled bears, pumas and the magnificent Andean condor. They’re also home to forests of lesser-known but critically important polylepis – known as “cloud trees.” Growing up to 5,000 meters above sea level, they are the highest-altitude trees in the world and…